Posted by Mathias NY on January 07, 2018 at 08:51:18 from (72.230.163.120):
In Reply to: Re: Solar electricity posted by Married2Allis on January 07, 2018 at 07:18:21:
For our system, there was no income tax paid on either Federal and State income taxes. They simply refunded us income tax dollars that we had already paid. There was a provision to spread the refund over multiple years if the credit exceeded the amount of tax paid for that year.
It currently saves us $80/month in electric cost. The loan costs $60/month. After 20 years, the savings at today's energy cost will be $19,200. The loan cost will have been $10,800.
The panels are currently outputting slightly above their rating, which will decrease over the next 20 years. Electricity costs from the grid always rise over time. From a cost perspective this will more than compensate for the loss of output.
There are no moving parts in the system, so there is aren't any planned maintenance costs. There will always be unknowns from a warranty perspective, like the manufacturer going out of business. Everyone will need to decide for themselves if the risk is worth the reward.
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